Why Figma Stock (FIG) Is Plummeting Today, Down More Than 50% Since Its Monster IPO

Shares of Figma (NYSE: FIG) are sinking on Thursday, down 18.3% as of 1:09 p.m. ET. The drop comes as the S&P 500 and the Nasdaq Composite both gained 0.4%.The design software vendor reported earnings for the first time as a public company, delivering numbers that were largely in line but failed to justify the stock's massive post-IPO run-up.The company reported Q2 sales of $249.6 million, up 41% year over year (YOY) but slightly missing Wall Street's target estimate. Figma reported net income of $846,000, well below analyst expectations, with the company citing preferred share distributions as the culprit. Without these, the company says it would have earned $28.2 million.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool